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Pioneer Natural Resources (PXD) Stock Sinks As Market Gains: What You Should Know

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Pioneer Natural Resources (PXD - Free Report) closed at $223.48 in the latest trading session, marking a -0.08% move from the prior day. This move lagged the S&P 500's daily gain of 3.06%. Elsewhere, the Dow gained 2.68%, while the tech-heavy Nasdaq lost 0.04%.

Heading into today, shares of the independent oil and gas company had lost 20.12% over the past month, lagging the Oils-Energy sector's loss of 12.66% and the S&P 500's loss of 4.31% in that time.

Wall Street will be looking for positivity from Pioneer Natural Resources as it approaches its next earnings report date. The company is expected to report EPS of $8.59, up 236.86% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $6.7 billion, up 95.96% from the year-ago period.

PXD's full-year Zacks Consensus Estimates are calling for earnings of $33.90 per share and revenue of $26.19 billion. These results would represent year-over-year changes of +155.66% and +78.83%, respectively.

Any recent changes to analyst estimates for Pioneer Natural Resources should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 1.15% higher. Pioneer Natural Resources is holding a Zacks Rank of #3 (Hold) right now.

Looking at its valuation, Pioneer Natural Resources is holding a Forward P/E ratio of 6.6. This represents a premium compared to its industry's average Forward P/E of 4.23.

It is also worth noting that PXD currently has a PEG ratio of 0.77. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. PXD's industry had an average PEG ratio of 0.21 as of yesterday's close.

The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 48, which puts it in the top 19% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

To follow PXD in the coming trading sessions, be sure to utilize Zacks.com.


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